The Pharmaceutical Industry: Private wealth or public health? with Dr Panos Kanavos

While the pharmaceutical industry is one of the most profitable in the world, over 2 billion people lack access to essential medicines. Although much pharmaceutical Research and Development (R&D) in part is publicly funded, companies habitually claim very high development costs as an excuse for the often exorbitant and, for the poor, unaffordable prices of drugs. Generic versions of these vital medicines can be made available, but when a new medication is created, it is understood to be protected by ‘intellectual property’ and can be patented for 20 years. 

Additionally, the practice of ‘evergreening’ is often used to extend these patents by repeatedly making minute modifications to the product concerned. Governments attempting to override them are met by huge resistance from the corporations concerned, while other governments are often supportive of their actions. At the opposite end of the spectrum, new drug approvals have increased significantly over the past few years, which is great news, but most of the new drugs are available at prohibitive prices and require health care systems to resort to extensive negotiations to ensure affordability. 

Dr Panos Kanavos will discuss this situation with us. He is Associate Professor in International Health Policy in the Department of Health Policy at the London School of Economics, and Programme Director of the Medical Technology Research Group, which administers the Programme on Pharmaceutical issues. An economist by training, his teaching role currently includes Health Care Financing and Pharmaceutical Economics and Policy.


Racism and Capitalism – two sides of the same coin?

Racism is outwardly condemned as an evil in our purportedly ‘liberal’ societies, yet it is inextricably linked to capitalism through violent histories of racist expropriation, and centuries of slavery and empire. Modern capitalism is built upon these histories, and Gargi Bhattacharyya argues that it is only by tracking the interconnections between its changing development and racism that we can hope to address the most urgent challenges of social injustice today. She is Professor of Sociology at the University of East London, where her research interests lie in the areas of ‘race’ and racisms, sexualities, global cultures, the ‘War on Terror’, austerity and racial capitalism. She has written widely on all these issues, and her most recent bookRethinking Racial Capitalism: Questions of Reproduction and 3rd Survival, was published by Rowman and Littlefield last year. 

3rd June 2019